Singapore’s Virtual Bank Licences Could Provide Template for SE Asian Region
BY Elizabeth Beattie |
Virtual bank licences have been something of a work in progress in Singapore over the past few years, and despite the pandemic, this process has remained on track. In June last year, the Monetary Authority of Singapore (MAS) shortlisted 14 contenders “eligible for next stage of assessment,” and by December, the city-state had approved four digital bank licences.